Revenue Revenue % of 2017 Net Income Net Income % of 2017 Davis Inc. In Millions of Dollars 2019 $450 % $236 % 2018 $360 % $195 % 2017 $270 % $152 %
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- I was given only this document for an assignment: What is the Fiscal Year End Date?Amazon: December 31st, 2019Walmart: January 31st, 2020Financial Statements data:Amazon:Net Sales: $280,522,000,000Basic net income per common share: $23.46Total current assets: $96,334,000,000Retained earnings: $31,220,000,000Net cash provided by operating activities: $38,514,000,000Inventory LIFOWalmart:Net Sales: $519,926,000,000Basic net income per common share: $5.22Total current assets: $61,806,000,000Retained earnings: $83,943,000,000Net cash provided by operating activities: $25,255,000,000Inventory: FIFO ANSWER THE FOLLOWING QUESTIONS:What are 3 differences between accounting policies from each company and why do you think they are different? I'm not sure exactly what the 3 differences are. I believe (1) is the fiscal year versus the calendar year ending maybe due to Walmart having more seasonal sales like Christmas, and (2) is the FIFO vs LIFO method - but I'm not sure why they would choose…Q26 You are required to prepare the balance sheet as on 31-12-2017 by using net change method from the following details. Liabilities OMR Assets OMR Share capital 200,000 Furniture & fixtures 200,000 Bank loan 50,000 Inventories 60,000 Creditors 70,000 Debtors 36,000 Cash 24,000 320,000 320,000 Balances of Debtors and creditors remain unchanged throughout the year. General price indices are on 1-1-12017----200; Average for the year ------240; on 31-12-2017----300. a. Retained earnings of OMR 15,000 by CPP method b. No Balancing figure neither in HCA nor CPP method c. No retained earnings d. None of them is correctPlease see attachment. The bottom portion is what I cannot figure out. The following financial information is for Priscoll Company. Priscoll CompanyBalance SheetsDecember 31 Assets 2020 2019 Cash $ 84,700 $ 78,650 Debt investments (short-term) 66,550 48,400 Accounts receivable 125,840 108,900 Inventory 278,300 199,650 Prepaid expenses 30,250 27,830 Land 157,300 157,300 Building and equipment (net) 314,600 223,850 Total assets $1,057,540 $844,580 Liabilities and Stockholders’ Equity Notes payable (short-term) $205,700 $145,200 Accounts payable 78,650 62,920 Accrued liabilities 48,400 48,400 Bonds payable, due 2023 302,500 205,700 Common stock, $10 par 242,000 242,000 Retained earnings 180,290 140,360 Total liabilities and stockholders’ equity $1,057,540 $844,580 Priscoll CompanyIncome StatementFor…
- https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Use the link above to a)Evaluate Republic Financial Holdings Limited 2022 annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide b) Identify and discuss key accounting principles and standards applied in Republic Financial Holdings Limited 2022 annual financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.)https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Financial Reporting Analysis: Use Republic Financial Holdings Limited Annual Report 2022 to answer the Questions. a) Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide. b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.) c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and…Solve for the following with provided solution: for reference: https://www.bartleby.com/questions-and-answers/income-statement-just-stuff-inc.-for-the-years-ended-dec.-31-2019-and-2020-2019-2020-sales-revenue-p/935f7cfa-fccf-4e0b-b22f-0cb98b1eb001
- https://www.republictt.com/pdfs/annual-reports/RFHL-Annual-Report-2022.pdf Financial Reporting Analysis: Use Republic Bank Limited Annual Report 2022 to answer the Questions. a) Evaluate the company’s latest annual financial statements (balance sheet, income statement, and cash flow statement) and comment on the company's financial performance and position. In your response, use the requirements of IAS 1 as a guide. b) Identify and discuss key accounting principles and standards applied in the company’s financial reporting process indicating their reasons for choosing these and how they were applied. Comment briefly on the appropriateness of the choices made given the company’s industry, location and type (e.g. MNC, regional conglomerate, etc.) c) Critically analyze any significant accounting policies and estimates disclosed in the notes to the financial statements. In your answer, indicate whether the company complied with the accounting standards and conventions.https://massygroup.com/wp-content/uploads/2022/11/MASSY-DIGITAL-ANNUAL- REPORT-2022-updated.pdf a. Conduct a horizontal and vertical analysis of the company’s financial statements to identify trends and patterns over the past two years. (8 marks) b. Provide an analysis of the company’s financial performance, for shareholders and potential investors, using the trends identified in (a) above and in the context of market and other trends and expectations mentioned in the MDA section of the Annual Report. c. Briefly explain how the analysis at (b) would be modified if it was prepared for stakeholders other than shareholders and investors.Choose the correct letter of answer: Company F Statement of Financial Positions at December 31, 2020 shows the following: Cash P4,000.00, Marketable Securities P8,000.00, Accounts Receivable P100,000.00, Inventories P120,000.00, Prepaid Expenses P1,000.00, Notes Payable (short term) P5,000.00, Accounts Payable P150,000.00, Accrued Expenses P20,000.00, Income taxes payable P1,000.00, and long-term liabilities P340,000.00. Determine the following: current ratio and quick ratio. a. 1.32 and 0.64b. 1.52 and 0.82c. 1.82 and 0.86d. 1.98 and 1.54e. 2.2 and 2.1
- Using the “Statement of Income” worksheet, center the financial statement titles across the data below and bold the company name Thom-Pierre Consultants (TPC) Quarterly Schedule of Revenue For the year December 31, 2018 QTR1 QTR2 QTR3 QTR4 2018 Sales 290000 320000 320000 490000 1,420,000 Interest 102500 175000 180000 54000 511,500 Investment Income 13000 9500 10000 20000 52,500 Other 16000 25000 19500 29000 89,500 Total 421,500 529,500 529,500 593,000 2,073,500 Thom-Pierre Consultants (TPC) COMPARITIVE INCOME STATEMENT for years ended 31 December 2018 2019 Revenues and gains *Sales revenue *Interest revenue *Investment Income *Other revenue Total revenue and gains Expenses and losses **Cost of goods sold 460,000 **Selling…Subject: accounting if erin company had net income of 300,000 in 2024 and it experienced a 24.5%increse in net income for 2025 what is its net income for 2025?A. You are provided with the following information form the accounts of BBS Ltd for the year ending 30 June 2019Cash Sales950 000Cost of Goods Sold35 000Amount received in advance for services to be performed in August 20199 500Rent expenses for year ended 30 June 20199 000Rent Prepaid for two months to 31 August 20191 200Doubtful debts expenses1 200Amount provided in 2019 for employees’ long-service leave entitlements5 000Goodwill impairment expenses7 000Required:Calculate the taxable profit and accounting profit for the year ending 30 June 2019.B. GYV Ltd has the following deferred tax balances as at 30 June 2019.Deferred tax asset $9 00 000Deferred tax liability $7 00 000The above balances were calculated when the tax rate, was 20 per cent. On 1 December 2019 the government raises the corporate tax rate to 25 per cent.Required:Provide the journal entries to adjust the carry-forward balances of the deferred tax asset and deferred tax liability.